{"id":172550,"date":"2020-06-23T13:17:28","date_gmt":"2020-06-23T17:17:28","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=172550"},"modified":"2020-06-23T07:18:38","modified_gmt":"2020-06-23T11:18:38","slug":"take-advantage-of-the-extended-deadline-for-ira-contributions","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/06\/take-advantage-of-the-extended-deadline-for-ira-contributions\/","title":{"rendered":"Take Advantage of the Extended Deadline for IRA Contributions"},"content":{"rendered":"
June 23, 2020<\/div>
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By Money Metals News Service<\/b><\/p>\n

There\u2019s still time to contribute to your IRA \u2013 and fund it with physical precious metals! If you haven\u2019t maxed out your retirement accounts for 2019, you can still do so through the extended tax filing deadline of July 15th.<\/p>\n

IRA contribution limits for 2019 are $6,000 for individuals ($7,000 if you\u2019re age 50 or older). For 2020, the limits are the same.<\/p>\n

Also for 2020, there is no longer any age restriction on contributions to traditional or Roth IRAs \u2013 meaning those over age 70 \u00bd can now keep building up their retirement savings on a tax-advantaged basis.<\/p>\n

You can choose to hold gold, silver, platinum, and\/or palladium bullion coins, bars, and rounds, subject to certain IRS requirements, inside an IRA. By holding precious metals within an IRA, you can defer taxes on transactions done within the IRA.<\/p>\n

At some point you may want to switch your silver for gold, platinum, or palladium… or for conventional financial assets. You can execute any such trades within an IRA and avoid taxes.<\/p>

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The IRS does require that bullion products meet a certain purity standard. As a general rule, non-pure gold, silver, platinum, and palladium bullion items will be prohibited for ownership inside a precious metals IRA.<\/p>\n

The exception to this IRA purity rule is the American Gold Eagle. Even though the Eagle is only 22k (and therefore isn\u2019t pure), it has been given a special exemption since it is the flagship gold bullion product minted by the U.S. government.<\/p>\n

For more information on how to open a precious metals IRA and fund it with approved coins, rounds, or bars available from Money Metals Exchange, see our comprehensive guide: Secure Your Retirement with a Self-Directed Gold IRA<\/a>.<\/p>\n

Or call one of our IRA specialists today at 1-800-800-1865 to get started on the road to tax-advantaged precious metals ownership.<\/p>\n

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The Money Metals News Service provides market news and crisp commentary for investors following the precious metals markets.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Money Metals News Service There\u2019s still time to contribute to your IRA \u2013 and fund it with physical precious metals! If you haven\u2019t maxed out your retirement accounts for 2019, you can still do so through the extended tax filing deadline of July 15th. IRA contribution limits for 2019 are $6,000 for individuals ($7,000 […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-172550","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/172550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=172550"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/172550\/revisions"}],"predecessor-version":[{"id":172575,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/172550\/revisions\/172575"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=172550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=172550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=172550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}